Doximity Inc (DOCS)

Debt-to-capital ratio

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	901,397	864,614	871,467	990,787	966,116	930,174	878,964	902,166	878,594	838,848	772,560	728,452
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $901,397K)
= 0.00

The debt-to-capital ratio of Doximity Inc has consistently been reported as 0.00 for each of the quarterly periods ending from March 31, 2024, back to June 30, 2021. This indicates that the company has not had any debt on its capital structure during these periods. A debt-to-capital ratio of 0.00 signifies that the company's capital is entirely derived from equity rather than debt financing. This can imply that Doximity Inc may have been funding its operations, investments, and growth using internally generated funds or equity financing rather than taking on debt. While a low or zero debt-to-capital ratio can be viewed positively as it indicates low financial risk associated with debt repayment, it is essential to consider the overall financial strategy and future capital structure plans of the company for a more holistic evaluation.